Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) has revealed that its shares are now changing hands on the OTCQB venture market in New York, increasing the group's access to US-based retail and institutional investors.
It comes after the OTC Markets approved the move, which, the firm said, aligns well with Medallion’s focus on production of rare-earth elements (REE) within North America.
READ: Medallion Resources narrows down search for right location for its rare earth production facility in North America
"While the TSX Venture Exchange remains Medallion’s primary capital market, our leading position in the REE industry, and the importance of REEs to U.S. industry and defense makes the OTCQB Venture Market a natural fit,” said the group's CEO Mark Saxon in a statement.
"We are working closely with Amvest Capital Inc. of New York for capital markets support, and recently welcomed Talaxis Ltd, a unit of Global commodity trader Noble Limited, as a shareholder and partner."
The OTC Venture Market (OTCQB) offers developing Canadian companies the benefits of being publicly traded in the USA but with lower cost and complexity than a US exchange listing.
Medallion has developed a process to achieve low-cost, rare-earth element (REE) production by exploiting monazite, which is widely available as a by-product from mineral sand mining.
Monazite is used as a source of rare earth elements (REE) in both China and India, where it is considered an attractive feedstock due to its high REE content.
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